Do the conveyancing lawyers that you recommend conduct right to buy conveyancing in South Cave?
We have identified numerous conveyancing lawyers carrying out right to buy transactions You should call the conveyancers listed to get a costs illustration.
I happen to be the sole recipient of my late father’s estate with all property in now in my sole name, including the my former home in South Cave. Conveyancing formalities meant that the Land Registry date was in October. I plan to dispose of the property. I understand that there is a CML six month 'rule', which means that my proprietorship may be considered the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Most lenders would take a sensible view as this provision is principally there to capture subsales or the wholesaling and assigning of property.
How can we know in advance if a South Cave conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in South Cave obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your conveyancing.
We were going to get a DIP from RBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any South Cave solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint South Cave solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
How does conveyancing in South Cave differ for newly converted properties?
Most buyers of new build premises in South Cave contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in South Cave typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in South Cave or who has acted in the same development.
I opted to have a survey carried out on a house in South Cave ahead of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some mortgage companies will refuse to issue a loan on this type of house.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in South Cave. Conveyancing will be smoother if you use a solicitor in South Cave especially if they are accustomed to such properties in South Cave.
I have just started marketing my ground floor apartment in South Cave. Conveyancing lawyers have not yet been instructed, however I have recently had a half-yearly service charge demand – what should I do?
It best that you clear the invoice as usual because all rents and maintenance invoices should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
South Cave Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
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You should be aware if it is no more than 80 years it will affect the marketability of the property. Check with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. For most South Cavelease extensions you will need to own the property for a couple of years before you are legally able to extend the lease. What is the annual service fee and ground rent? How many of the leaseholders are in arrears for their service charge payments?